Legal Question in Credit and Debt Law in India

i took a personal loan from a bank about 9 years ago. I made the payment for a majority of part however due to some extreme issues i was not able to repay the whole amount. I think about 25000 is outstanding. After about 7 years i got a call from the bank about it. I still have a salaried account with the same bank. What recourse the bank can take if i do not repay the rest of the amount. i am not staying at the old address anymore.


Asked on 8/11/11, 12:21 am

2 Answers from Attorneys
Sanjay Kalra Sanjay Kalra & Associates

They would attach your salary account to recover there balance with interest.

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Answered on 8/11/11, 2:21 am
KarVai Legal Solutions Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in

yes they can attach ur salary account....

u need to talk to them and settle dwn the issue

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Answered on 8/11/11, 2:54 am


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